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Canadian Life & Health Insurance Facts // 2025 Edition 2 Supporting the health and wealth of Canadians This year, the Canadian Life & Health Insurance Facts report highlights the significant impact our sector continues to make in supporting the health and financial security of Canadians, paying out $143.3 billion in total benefits, up nearly 12 per cent over the previous year. These total benefits include $53.3 billion in health claims, up from $48.2 billion from the previous year. Critical to reducing strain on the public health system, health benefits cover 27 million Canadians, ensuring access to prescription drugs, dental, vision and other important services that prevent and manage illness, such as physiotherapy and mental health counselling. While prescription drug costs continue to account for the largest share of health benefits at $16.6 billion, claims for paramedical services like mental health and massage increased by 16 per cent, leading the growth of health claims in 2024. When it comes to personal wealth, insurers are helping Canadians achieve financial security, paying $71.4 billion in retirement benefits and $18.6 billion in life insurance. Insurers also continue to boost our country's economy, employing more than 180,000 Canadians and paying $12.1 billion in taxes. Last year, insurers held $50 billion in domestic infrastructure and more than $1 trillion in long-term investments to support our country's long-term growth. As the federal government looks to further encourage private sector investments to support nation- building infrastructure projects, insurers are ready partners, willing and able to do more. Canada's life and health insurers will continue to be there for Canadians. Working alongside government partners, we will keep doing our part to ensure Canadians are financially secure and can access the health benefits they value and rely on. Stephen Frank President and CEO

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